Royal Bank of Canada Lowers WESCO International (NYSE:WCC) Price Target to $54.00

WESCO International (NYSE:WCC) had its price objective lowered by Royal Bank of Canada to $54.00 in a research report report published on Friday morning, The Fly reports. Royal Bank of Canada currently has a sector perform rating on the technology company’s stock.

Several other analysts have also recently issued reports on the company. Zacks Investment Research cut WESCO International from a hold rating to a sell rating in a research report on Tuesday, April 30th. ValuEngine lowered WESCO International from a sell rating to a strong sell rating in a report on Friday, July 12th. Northcoast Research lowered WESCO International from a buy rating to a neutral rating in a report on Friday. Buckingham Research decreased their price objective on WESCO International from $64.00 to $58.00 and set a buy rating for the company in a report on Wednesday, June 19th. Finally, William Blair lowered WESCO International from an outperform rating to a market perform rating in a report on Tuesday, May 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $61.71.

Shares of NYSE WCC opened at $44.76 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.18 and a quick ratio of 1.31. The company has a market cap of $2.02 billion, a PE ratio of 9.29, a PEG ratio of 0.83 and a beta of 1.73. The firm’s fifty day moving average is $49.41. WESCO International has a 12-month low of $43.59 and a 12-month high of $63.20.

WESCO International (NYSE:WCC) last announced its earnings results on Thursday, August 1st. The technology company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.01. The business had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.17 billion. WESCO International had a return on equity of 10.56% and a net margin of 2.82%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.22 EPS. As a group, analysts forecast that WESCO International will post 5.33 EPS for the current year.

In other news, Director John K. Morgan sold 3,077 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $51.29, for a total transaction of $157,819.33. Following the completion of the sale, the director now owns 25,984 shares in the company, valued at approximately $1,332,719.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lynn M. Utter sold 1,513 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $48.97, for a total value of $74,091.61. Following the sale, the director now owns 11,151 shares of the company’s stock, valued at approximately $546,064.47. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank purchased a new position in WESCO International in the 4th quarter worth $37,803,000. Diamond Hill Capital Management Inc. raised its stake in WESCO International by 6,102.8% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 548,764 shares of the technology company’s stock worth $27,795,000 after acquiring an additional 539,917 shares during the last quarter. Fort Washington Investment Advisors Inc. OH purchased a new position in WESCO International in the 1st quarter worth $14,834,000. Foundry Partners LLC raised its stake in WESCO International by 1,442.7% in the 2nd quarter. Foundry Partners LLC now owns 138,847 shares of the technology company’s stock worth $7,033,000 after acquiring an additional 129,847 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in WESCO International by 75.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 293,472 shares of the technology company’s stock worth $15,557,000 after acquiring an additional 125,940 shares during the last quarter. Hedge funds and other institutional investors own 97.86% of the company’s stock.

About WESCO International

WESCO International, Inc distributes electrical, industrial, and communications maintenance, repair and operating (MRO) and original equipment manufacturers products and construction materials in North America and internationally. The company sells general supplies, such as wiring devices, fuses, terminals, connectors, boxes, enclosures, fittings, lugs, terminations, wraps, splicing and marking equipment, tools and testers, safety, personal protection, sealants, cutting tools, adhesives, consumables, fasteners, janitorial, and other MRO supplies.

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Analyst Recommendations for WESCO International (NYSE:WCC)

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